Ethical dilemma Background Information

Fred Smith is an accounting student who is also a student member of a professional accounting body. Whilst studying, Fred set up an accounting and taxation practice offering services to the general public. Many of Freds friends have sought his services for taxation advice and the business is going well with enough profit to cover his study and living costs. Fred is not a registered tax agent. Fred has recently completed the tax module in the professional development program for the professional body.

1. Identify and describe the ethical issue(s)